Raising Cane's has made a significant move by acquiring a retail property for $12.7 million at a prime intersection near UC Berkeley, signaling plans for expansion in the Bay Area. The property, currently anchored by Walgreens, spans 12,400 square feet and has a lease running until 2036. However, Walgreens has options to terminate its lease as early as 2026. This purchase follows previous unsuccessful attempts by Raising Cane's to establish a location in Berkeley, underlining the significance of this investment in a dynamic marketplace.
Raising Cane's, aiming to expand in the Bay Area, has acquired a $12.7 million retail property in Berkeley with plans for a new location.
The high-profile dining chain's purchase signals interest in establishing a presence near UC Berkeley, capitalizing on a vibrant college environment.
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